Yes, mortgages are closing faster, but only as fast as you want
The best fintech providers move mortgage lending at the pace of the homebuyer
Mortgage closing times continue to get quicker and quicker across the entire housing finance space according to just about every metric out there.
In 2019 alone, mortgages close, on average, at least ten days quicker than the year before.
While every homebuyer will close at their own pace different -- some may even want to take more time to close -- mortgage lending is now fully embracing fintech to modernize the market for home loans. HousingWire later published followed up coverage that went deeper into the issue, with exclusive interviews with Roostify and our client BOK Financial.
At any rate, the mortgage space is still lagging behind other, financial products when it comes to digital adoption. Most lenders aren’t sure who to select to help ease the burden of moving to an online digital lending platform. Some lenders think their operation is too big to look for a digital partner, others think they are too small.
Roostify has a track record of onboarding lenders of all shapes and sizes. From big lenders, such as HSBC, to regional players looking to expand, such as Glacier Bank, Roostify helps everyone customize their lending operation to suit their needs.
And with current interest rates, now at historical lows, set to remain stable or even go a little lower, closing a mortgage quickly only helps to serve the homebuyer’s interest even more. That’s another reason serious lenders are joining forces with digital partners who seamlessly integrate leading pricing engines; in the end everyone gets the best deal out there.